XTX Topco Ltd Buys 87,869 Shares of Planet Labs PBC (NYSE:PL)

XTX Topco Ltd grew its stake in Planet Labs PBC (NYSE:PL - Free Report) by 51.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 257,074 shares of the company's stock after acquiring an additional 87,869 shares during the period. XTX Topco Ltd owned 0.09% of Planet Labs PBC worth $1,039,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PL. Vanguard Group Inc. boosted its holdings in shares of Planet Labs PBC by 2.6% during the 4th quarter. Vanguard Group Inc. now owns 15,952,394 shares of the company's stock worth $64,448,000 after buying an additional 397,153 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Planet Labs PBC by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,939,737 shares of the company's stock worth $19,961,000 after acquiring an additional 69,245 shares during the period. State Street Corp increased its stake in shares of Planet Labs PBC by 5.7% during the third quarter. State Street Corp now owns 4,272,633 shares of the company's stock worth $9,528,000 after purchasing an additional 230,076 shares during the period. Franklin Resources Inc. lifted its holdings in Planet Labs PBC by 4.3% during the 4th quarter. Franklin Resources Inc. now owns 1,886,835 shares of the company's stock worth $7,623,000 after purchasing an additional 78,348 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Planet Labs PBC by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,770,146 shares of the company's stock valued at $7,151,000 after buying an additional 37,600 shares in the last quarter. Institutional investors and hedge funds own 41.71% of the company's stock.

Planet Labs PBC Stock Performance

Shares of Planet Labs PBC stock traded down $0.24 on Monday, hitting $3.00. The stock had a trading volume of 701,902 shares, compared to its average volume of 3,497,593. The stock has a 50 day moving average of $4.11 and a 200 day moving average of $3.85. Planet Labs PBC has a twelve month low of $1.67 and a twelve month high of $6.71. The firm has a market capitalization of $905.24 million, a P/E ratio of -7.30 and a beta of 1.56.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings data on Thursday, March 20th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.06). The business had revenue of $61.55 million during the quarter, compared to the consensus estimate of $61.89 million. Planet Labs PBC had a negative return on equity of 24.16% and a negative net margin of 48.88%. During the same period in the prior year, the firm earned ($0.06) EPS. Equities analysts expect that Planet Labs PBC will post -0.37 earnings per share for the current year.

Analysts Set New Price Targets

PL has been the topic of several research reports. Benchmark upped their price target on shares of Planet Labs PBC from $4.00 to $7.00 and gave the company a "buy" rating in a research note on Wednesday, February 5th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a research note on Friday, March 21st. Northland Securities lifted their price objective on Planet Labs PBC from $5.00 to $7.00 and gave the company an "outperform" rating in a report on Thursday, January 30th. Needham & Company LLC reissued a "buy" rating and set a $8.00 target price on shares of Planet Labs PBC in a report on Monday, March 24th. Finally, Craig Hallum upgraded shares of Planet Labs PBC from a "hold" rating to a "buy" rating and set a $7.00 price objective on the stock in a research note on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $5.98.

Planet Labs PBC Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.